Piper Jaffray Starts Celyad SA (CYAD) at Overweight

Piper Jaffray initiates coverage on Celyad SA (NASDAQ: CYAD) with a Overweight rating and a price target of $95.00.

Analyst Edward Tenthoff commented, "Celyad is a leading cell therapy company. Celyad is conducting the Phase III CHART-1 trial of autologous cell therapy C-CURE in heart failure patients with data likely next summer. The company will initiate the CHART-2 trial this year with data in 2017. Celyad recently in-licensed novel CAR-T technology for cancer currently in a Phase I AML and multiple myeloma study. Celyad is listed on the EuroNext exchange in Brussels and Paris, and just completed a U.S. IPO issuing 1.46 million shares at US$68.56 raising gross proceed of US$101 million. CYAD shares have sold off since the IPO providing an attractive entry point at US$54.71, in our view. We are initiating coverage with an Overweight rating and US$95 price target."

For an analyst ratings summary and ratings history on Celyad SA click here. For more ratings news on Celyad SA click here.

Shares of Celyad SA closed at $54.71 yesterday.

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